PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006 With comparative figures for 2005
Expressed in rupiah, unless otherwise stated
16
3. CASH AND CASH EQUIVALENTS
The details of cash and cash equivalents are as follows:
2006 2005
Cash on hand 945,527,897
903,672,897 Cash in banks
PT Bank Central Asia Tbk. Rupiah
18,398,346,973 4,736,046,427
U.S. dollar US60,855 in 2006 and US468,385 in 2005
548,909,304 4,604,224,845
Euro EUR5,139 in 2006 and EUR290,674 in 2005
60,942,827 3,389,219,653
PT Bank Mandiri Persero Tbk. Rupiah
5,268,311,427 19,529,839,532
U.S. dollar US323,021 in 2006 and US161,058 in 2005
2,913,650,322 1,583,199,157
Euro EUR52,531 in 2006 and EUR668,901 in 2005
622,925,577 7,799,293,806
ABN-AMRO Bank N.V. U.S. dollar US259,970 in 2006 and
US316,559 in 2005 2,344,926,784
3,111,779,492 Rupiah
1,649,410,336 1,447,689,689
Japanese yen JP¥9,805,537 in 2006 and JP¥28,641,411 in 2005
743,213,619 2,389,318,060
Euro EUR28,921 in 2006 and EUR455,502 in 2005
342,952,521 5,311,098,069
The Hongkong and Shanghai Banking Corporation Ltd., Jakarta Branch
Rupiah 3,614,520,665
10,341,049,894 PT Bank Lippo Tbk.
Rupiah -
7,344,525,701 Others
Rupiah 3,700,195,190
1,568,037,038 U.S. dollar US81,201 in 2006 and
US53,319 in 2005 732,431,305
524,125,770 Japanese yen JP¥109,509
- 9,135,438
Rupiah time deposits PT Bank Central Asia Tbk.
1,500,000,000 59,500,000,000
ABN-AMRO Bank N.V. -
27,000,000,000 PT Bank Mandiri Persero Tbk.
- 10,500,000,000
U.S. dollar time deposits ABN-AMRO Bank N.V. US33,206,320
- 326,418,128,164
Total 43,386,264,747
498,010,383,632
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006 With comparative figures for 2005
Expressed in rupiah, unless otherwise stated
17
3. CASH AND CASH EQUIVALENTS continued
Interest rates per annum:
2006 2005
Rupiah time deposits 8.25 - 13.00 5.00 - 14.00
U.S. dollar time deposits 3.70 - 5.10 1.75 - 3.75
4. TRADE RECEIVABLES
The details of trade receivables are as follows:
2006 2005
Related Party Note 23 Cement business
HCT Services Asia Pte., Ltd., Singapore US3,984,810 in 2006 and
US4,872,610 in 2005 35,942,984,396
47,897,758,168
Third Parties Cement and ready mix concrete business
592,380,940,788 519,798,926,680
Allowance for doubtful accounts 11,067,732,391
13,835,340,496
Net 581,313,208,397
505,963,586,184
The movements of allowance for doubtful accounts are as follows:
2006 2005
Balance at beginning of year 13,835,340,496
13,822,091,743 Provision during the year
2,663,022,870 6,682,663,190
Receivables written off during the year 5,430,630,975
6,655,585,161 Reversal of allowance on doubtful accounts
collected during the year -
13,829,276
Balance at end of year 11,067,732,391
13,835,340,496
Based on the review of the status of the individual receivable accounts at the end of the year, management believes that the above allowance for doubtful accounts is sufficient to cover any
possible losses that may arise from uncollectible accounts.
Trade receivables were used as collateral for the long-term loans from banks and financial institutions Note 12.
The aging of trade receivables based on their currency denominations as of December 31, 2006 and 2005 is as follows:
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2006 With comparative figures for 2005
Expressed in rupiah, unless otherwise stated
18
4. TRADE RECEIVABLES continued 2006
